Heritage Commerce (NASDAQ:HTBK - Get Free Report) was upgraded by equities research analysts at Stephens from a "hold" rating to a "strong-buy" rating in a research report issued on Monday, March 3rd,Zacks.com reports.
Several other research firms have also recently weighed in on HTBK. Keefe, Bruyette & Woods lowered their price objective on shares of Heritage Commerce from $12.50 to $11.50 and set an "outperform" rating for the company in a research report on Friday, January 24th. StockNews.com raised shares of Heritage Commerce from a "sell" rating to a "hold" rating in a research note on Wednesday, December 4th.
Check Out Our Latest Analysis on HTBK
Heritage Commerce Price Performance
Shares of NASDAQ:HTBK traded down $0.41 during trading on Monday, reaching $9.61. The stock had a trading volume of 401,029 shares, compared to its average volume of 364,233. The stock has a market capitalization of $589.12 million, a PE ratio of 14.56 and a beta of 0.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.73 and a quick ratio of 0.73. Heritage Commerce has a 52 week low of $7.66 and a 52 week high of $11.27. The business's 50-day moving average price is $9.82 and its 200 day moving average price is $9.97.
Heritage Commerce (NASDAQ:HTBK - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. Heritage Commerce had a return on equity of 5.96% and a net margin of 16.12%. As a group, equities analysts predict that Heritage Commerce will post 0.8 earnings per share for the current year.
Insider Buying and Selling at Heritage Commerce
In other news, Director Jack W. Conner sold 4,000 shares of Heritage Commerce stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $10.52, for a total transaction of $42,080.00. Following the completion of the sale, the director now owns 108,512 shares in the company, valued at $1,141,546.24. The trade was a 3.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.99% of the company's stock.
Hedge Funds Weigh In On Heritage Commerce
A number of hedge funds and other institutional investors have recently bought and sold shares of HTBK. Dimensional Fund Advisors LP lifted its stake in shares of Heritage Commerce by 4.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,392,688 shares of the financial services provider's stock valued at $31,823,000 after purchasing an additional 130,144 shares during the period. Wellington Management Group LLP increased its holdings in Heritage Commerce by 13.2% in the fourth quarter. Wellington Management Group LLP now owns 2,302,615 shares of the financial services provider's stock valued at $21,599,000 after purchasing an additional 268,900 shares during the last quarter. State Street Corp lifted its stake in Heritage Commerce by 3.2% in the third quarter. State Street Corp now owns 1,965,643 shares of the financial services provider's stock valued at $19,421,000 after buying an additional 61,630 shares during the period. Boston Partners boosted its holdings in Heritage Commerce by 1.7% during the fourth quarter. Boston Partners now owns 1,564,741 shares of the financial services provider's stock worth $14,620,000 after buying an additional 26,442 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Heritage Commerce by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,426,816 shares of the financial services provider's stock worth $13,386,000 after buying an additional 4,756 shares during the period. 75.55% of the stock is owned by institutional investors.
About Heritage Commerce
(
Get Free Report)
Heritage Commerce Corp operates as the bank holding company for Heritage Bank of Commerce that provides various commercial and personal banking services to residents and the business/professional community in California. Its deposit products for business banking and retail markets include interest and non-interest-bearing demand, savings, and money market accounts, as well as certificates of deposit and time deposits.
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